Positions were added to Denis Manturov // The head of the Ministry of Industry and Trade became an industrial vice-premier

Vladimir Putin on Friday approved personnel reshuffles aimed at solving the problems of Russian industrial production in the face of sanctions – Industrial Deputy Prime Minister Yury Borisov was dismissed, and his powers were given to the new Deputy Prime Minister and head of the Ministry of Industry and Trade Denis Manturov. It is expected … Read more

Loan approval required from infrastructure // White House tightens demand from engineering piping projects for industrial and technoparks

The Ministry of Industry and Trade published on regulation.gov.ru a draft government decree tightening access to support for industrial investment projects, now those that rely not on the real infrastructure capacities of industrial and technoparks, but only on plans for their construction, will have to confirm the feasibility of their financing by decisions of the … Read more

VEB is authorized to guarantee // Support for backbone companies is being extended to all large businesses

The White House is ready to extend state support for backbone enterprises to large companies left without such assistance. A model for issuing guarantees, already tested on the experience of COVID-19, has been chosen – VEB.RF guarantees up to half of the loans of such companies with a total value of more than 0.5 trillion … Read more

Finnish Fortum stops new investment projects in Russia

Finnish energy company Fortum has halted all new investment projects in Russia “until further notice” due to the situation in Ukraine, according to a statement by the corporation’s president and CEO, Markus Rauramo. He also noted that the company will “continue to reduce its presence in thermal generation in Russia.” In Russia, Fortum owns 98.23% … Read more

Forgiven loan with state interest // The Ministry of Finance specifies measures to support investments

The Ministry of Finance intends to prohibit the regions from using budget and infrastructure loans “forgiven” in exchange for the launch of new investment projects to finance projects under agreements on the protection and promotion of capital investments (CPP), as well as to support industrial parks and special economic zones. De facto, the project of … Read more

Chekunov: two-thirds of concessions in the Far East and the Arctic are aimed at investment projects

The head of the Ministry for the Development of the Russian Far East, Alexei Chekunov, believes that the only way to accelerate the creation of investment projects is the mechanism of the Far Eastern and Arctic concessions. The authorities are targeting a portfolio of RUB 500 billion. 67% of the funds will go to infrastructure … Read more